Ryan Specialty Group (RSG), the Chicago-based global specialty insurance services business, has reached an agreement to acquire Hunter George & Partners Ltd., the London-based specialist managing general agent (MGA) focused on insurance solutions for mergers and acquisitions.
Hunter George founders Ian Theato and Tim Martin will continue leading the business, which features highly specialized underwriting capability in the rapidly growing areas of warranty and indemnity, commercial tax liability and contingent risk insurance.
Patrick G. Ryan, chairman and CEO of RSG commented: “Ian and Tim have built an outstanding platform in M&A insurance, a market segment of global importance to RSG. We are excited to add Hunter George to our growing MGA operation in London.”
Martin said: “We are delighted to be joining RSG where we will benefit from the extensive experience and global relationships of the leadership team.”
Theato added: “We believe this combination will enable us to scale our platform quickly to seize the exciting market opportunity in European M&A. We also view the entrepreneurial culture of RSG as a perfect fit for our team.”
Peter McKenna, who leads RSG’s MGA strategy in EMEA, commented: “Hunter George is a great fit for our portfolio and will significantly broaden our range of high-demand specialty products. With Hunter George, we gain exceptional underwriting talent, extensive contacts and an excellent reputation in the M&A segment, with particular emphasis on the EU markets. Operating as a coverholder in the London market, Hunter George enables us to offer innovative solutions for our clients.”
The acquisition is subject to regulatory approval. Terms of the transaction were not disclosed.
Source: Ryan Specialty Group
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